So, you are thinking about selling your home, but you are concerned because you aren’t sure the steps that you need to take to go about that. THE LARSON MONTGOMERY TEAM IS HERE TO HELP!
Let’s go over a couple of things to consider.
Buying a home in a Seller’s Market:
This is great for you being a seller because hopefully you get multiple offers and get your home pending right away, however, let’s put on your buyers’ hat. This means there is less for you to choose from when you go to buy.
1.) The inventory is low, as mentioned above there are less homes to choose from.
2.) Multiple Offers: In a seller’s market, it is common for a buyer (you) to be competing with other buyers who want to buy the same home. The seller could have many offers to choose from and you, needing to sell a home first, could put you at a lower ranking. A buyer who has not yet sold his home is not a desirable buyer when put against a buyer who has no home to sell.
3.) Contingent Offers: You will likely have to write your offer on a new home, contingent on the sale of your current home. Let us help you through this so you can beat out other offers and stand out!
Buying a home in a Buyers’ Market:
This is the flip side, Buyers have more to choose from so we will have to make your home stand out when selling it! But on the contrary, you will have more to choose from when you go to write and offer on a new home.
1.) Putting in a Contingent offer on a home: Put your buyers’ hat on- In a buyers’ market, the seller may be more willing to take a contingent offer, meaning they will wait for you to get your home in contract with a buyer.
2.) More inventory to choose from! You will have more homes to look at, which gives you more options for your new home.
3.) Prices for buying aren’t as inflated: You can feel good that you aren’t in competition for buying a home, potentially “over-bidding” or paying more than you really want to pay for a specific home!
Are you in this situation? Thinking about selling and buying, but not knowing where to start? Call us today and we can meet with you and go over all the steps to make this move as seamless as possible!
CONTACT US AT 530-350-6335